PORTLAND, OR--(Marketwire - Jun 3, 2011) - Williams Controls (NASDAQ: WMCO) announced today significant increases in business activity in Russia and Turkey. While the Company has a manufacturing and marketing presence in the major international markets, the developments in the Russia and Turkey markets have unfolded over the course of the current year driven by improving demand for commercial trucks and the need for more environmentally friendly electronic engines which use the Company's throttle controls.
The Company this week received its largest single order from a leading Russian commercial vehicle manufacturer which totaled over $700,000 in new sales. Shipments to our Russian customers this year will be the highest in the Company's history.
In Turkey the Company received its first production orders, from the country's largest manufacturer of commercial vehicles, for its electronic throttle control products.
"As tightening international emissions standards drive demand for the Company's products we are pleased with the results of our global strategy implemented six years ago," said Patrick W. Cavanagh, President and CEO of Williams Controls.
About Williams Controls
Williams Controls is the world leader in Electronic Throttle Controls for commercial vehicles. Its customers include many of the global leaders in the truck, bus, and off-road markets. Williams Controls is headquartered in Portland and employs more than 300 people worldwide. It supports its customers in North America, Europe, and Asia with production facilities in Portland, Oregon, USA, Suzhou, China, and Pune, India.
The statements included in this news release concerning predictions of economic performance and management's plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1934, as amended. These forward looking statements are based on management's assumptions and projections, and are sometimes identifiable by use of the words, "expect to," "plan," "will," "believe" and words of similar predictive nature. Because management's assumptions and projections are based on anticipation of future events, you should not place undue emphasis on forward-looking statements. You should anticipate that our actual performance may vary from these projections, and variations may be material and adverse. You should not rely on forward-looking statements in evaluating an investment or prospective investment in our stock, and when reading these statements you should consider the uncertainties and risks that could cause actual results to differ materially from the forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to, factors detailed in the Securities and Exchange Commission filings of the Company; economic downturns affecting the operations of the Company or any of its business operations, competition, and the ability of the Company to successfully identify and implement any strategic alternatives. The forward-looking statements contained in this press release speak only as of the date hereof and the Company disclaims any intent or obligation to update these forward-looking statements.